GBP Futures: bearish with caution

Pablo Piovano FXStreet

Open interest in GBP futures markets shrunk for the third session in a row on Thursday, this time by just 293 contracts as per advanced data from CME Group. Volume, instead, rose by almost 41.8K contracts, extending the erratic performance.

GBP/USD risks further downside

Cable accelerated its correction lower on Thursday on the back of a dovish BoE. The lack of a clear direction in volume along with irrelevant figures from open interest in past sessions opens the door for some consolidation in the near term although a deeper retracement to sub-1.2800 levels should not be ruled out.

Author

Pablo Piovano

FXStreet

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

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UK GDP set to post weak growth as markets rise bets on March rate cut

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The market trades the path not the past

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XRP sell-off deepens amid weak retail interest, risk-off sentiment

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